Accounting Treatment of New Accounting Package/IT system

[Scrubs]

Hi all

Tried in vain to google this but no joy. Hopefully someone can help me with this one!

A company purchases a new accounting package (currently using Quickbooks). The initial cost is €6000 for the license, Training provided by the supplier of the package for around €3000. How do you treat this? Is this treated as an expense and immediately hits the P&L or is it capitalised as an intangible asset?

Thanks so much for any responses!!

 

[aishling]

Capitalise licence and expense the training costs per IAS 38 intangible assets

 

[Scrubs]

Thanks so much for replying